the quarter -- Q4 2010 EPS target raised to $1.15 to $1.17 (up 21% to 23%) -- Full Year 2010 EPS target increased to $3.57 to $3.59 (up 28% to 29%) -- Full Year 2011 EPS target set at $4.30 to $4.35 (up 20% to 22%)

Panera Bread Company (NASDAQ: PNRA) today reported net income of $23 million, or $0.75 per diluted share, for the third quarter ended September 28, 2010. The third quarter of fiscal 2010 results compare to net income of $19 million, or $0.61 per diluted share, for the third quarter ended September 29, 2009, and represent a 23% year-over-year increase in diluted earnings per share.

For the thirty-nine weeks ended September 28, 2010, net income was $75 million, or $2.42 per diluted share. These results compare to net income of $56 million, or $1.82 per diluted share, for the thirty-nine weeks ended September 29, 2009, and represent a 33% year-over-year increase in diluted earnings per share.